831Clearance procedureU.K.
(1)This section applies if a company considers that the condition mentioned in section 819(2)(a), (b) or (d) may be met as respects a gain of a capital nature which it—
(a)has obtained from the disposal of land, or
(b)would obtain from a proposed disposal of land.
(2)The company may provide the Commissioners for Her Majesty's Revenue and Customs with written particulars showing how the gain has arisen or would arise.
(3)The Commissioners must notify the company whether or not they are satisfied that, in the circumstances described in the particulars, it will not, or would not, be liable to tax on the gain as a result of this Part.
(4)The notification must be given before the end of the period of 30 days beginning with the day after that on which the particulars are received.
(5)A company notified by the Commissioners under this section that they are so satisfied is not liable to corporation tax on the gain as a result of this Part.
(6)A notification under this section about the Commissioners' decision concerning a gain is void if the particulars given under this section about the gain do not make a full and accurate disclosure of all facts and considerations relating to it which are material to the decision.